For the Columbus economy June 2022 report, we find the metro area continues to post generally positive numbers versus 2021 and 2020. The data comes from the Bureau of Labor Statistics.
Overall Metro Area June 2022 and Change from June 2021 Labor Force: 1,130,201 +7,231 Employed: 1,087,813 +24,480 Unemployed: 42,388 -17,249 Unemployment Rate: 3.8% -1.5 Total Non-Farm Jobs: 1,125,000 +26,400 Numbers improved versus a year prior across the board, though with relatively slow labor force growth.
Overall Metro Area June 2022 and Change from February 2020 (Pre-Pandemic) Labor Force: 1,130,201 +9,397 Employed: 1,087,813 +10,973 Unemployed: 42,388 -1,576 Unemployment Rate: 3.8% -0.1 Total Non-Farm Jobs: 1,125,000 +13,600 The metro area continues to be above pre-pandemic levels on all measurements.
Now let’s view the results by industry.
Mining/Logging/Construction 6/2020———–6/2021———-6/2022 45,000————46,300———48,500 This industry has fully recovered from the pandemic and is the highest since at least 1990.
Manufacturing 6/2020———–6/2021———-6/2022 69,600———–72,400———-72,900 Manufacturing has recovered from the pandemic period, but isn’t growing nearly as fast as other industries.
Trade/Transportation/Utilities 6/2020———–6/2021———-6/2022 213,300———-222,500———239,800 Fully recovered, this industry is at all-time highs.
Information 6/2020———–6/2021———-6/2022 15,500———–15,600———-16,700 The pandemic didn’t affect this industry much, as it was already in a general decline since the late 1990s-early 2000s.
Financial Activities 6/2020———–6/2021———-6/2022 84,300———–84,700———-85,400 Numbers for this industry have kind of been all over the place in recent years, but seem to be mostly stagnant since around 2016, so the pandemic didn’t have a strong effect either way.
Professional and Business Services 6/2020———–6/2021———-6/2022 171,000———-179,400———179,900 As with the financial activities industry, this one has been rather stagnant since about 2015-2016.
Education and Health Services 6/2020———–6/2021———-6/2022 149,700———-158,800———158,600 Education and Health were hard hit during the pandemic, and while they have recovered most of their lost jobs, have been unable to date to push past pre-pandemic highs.
Leisure and Hospitality 6/2020———–6/2021———-6/2022 86,400———-100,500———-109,600 The hardest hit industry by far, it has recovered the vast majority of lost jobs, but still remains a bit below pre-pandemic levels.
Other Services 6/2020———–6/2021———-6/2022 35,800———–40,400———-42,000 This industry is basically recovered.
Government 6/2020———–6/2021———-6/2022 171,200———-177,000———171,600 Government jobs have struggled to recover, and 2022 is not moving in the right direction, though this may not have anything to do with the pandemic.
In this latest edition of the Housing Market Update June 2022, data shows that home prices and sales remain strong, but perhaps not quite as strong as in May or other previous months. All data comes from Columbus Realtors.
Note: LSD= Local School District, CSD= City School District. In both cases, school district boundaries differ from city boundaries.
Top 15 Most Expensive Locations By Median Sales Price in June 2022 1. New Albany: $912,500 2. New Albany Plain LSD: $795,000 3. Upper Arlington CSD: $650,000 4. Powell: $601,000 5. Dublin: $570,000 6. Olentangy LSD: $531,000 7. Granville LSD: $527,000 8. Grandview Heights: $525,000 9. Bexley: $498,425 10. Buckeye Valley LSD: $478,980 11. Hilliard: $465,500 12. Short North: $459,000 13. Dublin CSD: $455,000 14. Worthington: $$455,000 15. Big Walnut LSD: $432,500 16. German Village: $430,000 Whether due to the Intel project or other factors, New Albany’s median sales price continued its path toward a million dollars.
Top 15 Least Expensive Locations by Median Sales Price in June 2022 1. Newark CSD: $168,000 2. Whitehall: $178,500 3. Miami Trace LSD: $184,316 4. Lancaster CSD: $203,500 5. Circleville CSD: $230,000 6. Hamilton LSD: $231,500 7. Groveport Madison LSD: $249,450 8. Columbus CSD: $252,500 9. Jefferson LSD: $267,550 10. Minerva Park: $272,500 11. Columbus: $275,000 12. Reynoldsburg CSD: $280,000 13. South Western CSD: $280,000 14. London CSD: $290,000 15. Delaware CSD: $320,000 16. Downtown: $324,450 The least expensive local markets aren’t so cheap anymore, with only a handful still under the $200,000 level. Columbus remains *relatively* affordable in comparison to most areas.
Overall Market Median Sales Price in June: $300,627 Based on the 10 Columbus Metro Area counties. This price was slightly lower than in May.
Top 15 Locations with the Highest Median Sales Price % Growth Between June 2021 and June 2022 1. Obetz: +68.2% 2. New Albany Plain LSD: +59.0% 3. Circleville CSD: +45.1% 4. Granville LSD: +36.5% 5. Upper Arlington CSD: +36.0% 6. Hilliard: +31.1% 7. Johnstown-Monroe LSD: $28.0% 8. Delaware CSD: +27.0% 9. New Albany: +26.7% 10. Hamilton LSD: +26.5% 11. Teays Valley LSD: +25.9% 12. Groveport Madison LSD: +24.7% 13. Pickerington: +23.4% 14. Pataskala: +23.0% 15. Lithopolis: +19.3% New Albany is clearly moving up the list of growers, as are other areas near the INtel site.
Top 15 Locations with the Lowest Median Sales Price % Growth Between June 2021 and June 2022 1. Minerva Park: -27.8% 2. Downtown: -27.1% 3. Bexley: -20.3% 4. Valleyview: -18.5% 5. Miami Trace LSD: -11.4% 6. Big Walnut LSD: -8.5% 7. German Village: -7.4% 8. Worthington CSD: -1.4% 9. Westerville: +0.0% 10. Dublin CSD: +2.2% 11. Westerville CSD: +2.7% 12. Worthington: +3.4% 13. Gahanna Jefferson CSD: +3.7% 14. Jonathan Alder LSD: +4.4% 15. Northridge LSD: +5.8%
Overall Market Median Sales Price % Change June 2022 vs. June 2021:+13.4% Based on 53 metro market locations.
Top 10 Locations with the Most New Listings in June 2022 1. Columbus: 1,459 2. Columbus CSD: 971 3. South Western CSD: 244 4. Olentangy LSD: 238 5. Westerville CSD: 183 6. Hilliard CSD: 173 7. Dublin CSD: 156 8. Worthington CSD: 115 9. Pickerington LSD: 112 10. Grove City: 102
Top 10 Locations with the Fewest New Listings in June 2022 1. Valleyview: 3 2. Minerva Park: 5 3. Lithopolis: 8 4. Obetz: 8 5. Jefferson LSD: 10 6. Grandview Heights: 10 7. Northridge LSD: 12 8. Granville LSD: 12 9. Hamilton LSD: 14 10. Sunbury: 15 11. Bexley: 16 12. Miami Trace LSD: 17 13. Johnstown Monroe LSD: 19
Total New Listings in the Columbus Metro in June 2022:+3,705 Overall Metro New Listings % Change June 2022 vs June 2021:-3.8% New listings fell for the 2nd consecutive month despite summer usually being the time when more people put their homes on the market.
Top 10 Fastest-Selling Locations by # of Days Homes Remain on the Market Before Sale in June 2022 1. Minerva Park: 3 2. Gahanna: 5 3. Powell: 5 4. Valleyview: 5 5. Worthington CSD: 5 6. Hilliard CSD: 6 7. Johnstown Monroe LSD: 6 8. Newark CSD: 6 9. Upper Arlington CSD: 6 10. Worthington: 6 11. Beechwold/Clintonville: 7 12. German Village: 7 13. Hilliard: 7 14. Lancaster CSD: 7 15. Marysville CSD: 7 16. Westerville: 7 17. Westerville CSD: 7 18. Delaware CSD: 8 19. Grove City: 8 20. Groveport Madison LSD: 8 21. Jefferson LSD: 8 22. Jonathan Alder LSD: 8 23. New Albany Plain: LSD: 8 24. Pickerington LSD: 8 25. Reynoldsburg CSD: 8 26. Blacklick: 9 27. Columbus: 9 28. Gahanna Jefferson CSD: 9 29. Lithopolis: 9 30. Olentangy LSD: 9 31. Pickerington: 9 32. Whitehall: 9 33. Canal Winchester CSD: 10 34. Grandview Heights: 10 35. New Albany: 10 36. South Western CSD: 10 37. Columbus CSD: 11 38. Dublin CSD: 11 39. Granville LSD: 11 40. London CSD: 11 41. Bexley: 13 42. Dublin: 13 43. Big Walnut LSD: 15 44. Short North: 15
The “Top 10” became the Top 44 just given that most of the local markets are selling so similarly quickly. There is relatively little spread between the fastest and slowest-selling markets.
Top 10 Slowest-Selling Locations by # of Days Homes Remain on the Market Before Sale in June 2022 1. Northridge LSD: 51 2. Downtown: 43 3. Teays Valley LSD: 30 4. Buckeye Valley LSD: 26 5. Circleville CSD: 25 6. Miami Trace LSD: 24 7. Sunbury: 23 8. Obetz: 22 9. Pataskala: 21 10. Hamilton LSD: 17
Top 10 Locations with the Greatest % Decline of # of Days on the Market Before Sale June 2022 vs. June 2021 1. German Village: -74.1% 2. Bexley: -69.0% 3. Grandview Heights: -58.3% 4. Upper Arlington CSD: -53.8% 5. Lancaster CSD: -50.0% 6. Grove City: -42.9% 7. Beechwold/Clintonville: -41.7% 8. New Albany: -37.5% 9. New Albany Plain LSD: -33.3% 10. Newark CSD: -33.3% 11. Worthington: -33.3% 12. Granville LSD: -31.3%
Top 10 Locations with the Lowest % Decline of # of Days on the Market Before Sale June 2022 vs. June 2021 1. Northridge LSD: +325.0% 2. Circleville CSD: +212.5% 3. Miami Trace LSD: +200.0% 4. Sunbury: +155.6% 5. Teays Valley LSD: +150.0% 6. Pickerington: +125.0% 7. Hamilton LSD: +112.5% 8. Pataskala: +110.0% 9. Canal Winchester CSD: +100.0% 10. Lithopolis: +80.0%
Total # of Days Homes Remain on the Market Before Sale Across the Metro Overall: 14.7 Overall Metro Days on Market % Change June 2022 vs June 2021: +4.3% Homes spent slightly longer on the market in June vs. a year ago, again signaling that perhaps a slowdown is in the very early stages.
